Pfizer’s discount on drugs in partnership with the US government

Image Credit: Mint

Announcement 

Pfizer’s CEO, Albert Bourla, appreciated tariffs, calling it a deal through which the company will provide drugs on a corner to be launched website known as ‘trumpRx’. Yesterday, on Tuesday, at the press conference in the Oval Office, President Donald Trump, joined by a group of agency regulators, cabinet officials, and the CEO of Pfizer, confirmed that the company has entered a deal with the federal government to sell a few of its drugs at low prices.

The deal includes various parts. The first part is related to Pfizer’s primary care drugs, with a few drugs considered as specialty indications. These drugs will be accessible at an average discount of around 50% on trumpRX, on a yet-to-be-launched website. On the other side, Pfizer will get a three-year grace period based on the impact of the capable pharmaceutical tariffs till the company continues to invest effectively in the US manufacturing. Pfizer confirmed during the press conference that it will boost the US manufacturing footprint by $70 billion.

Pfizer’s agreement’s third part is parity-based. Under this New York-related company, it will pay attention to US patients' drug access at a similar price to that of others in developed countries. It’s a major plank in the repetitive, most bragged-about nations' drug pricing scheme by the president.

Pfizer’s contribution matters

Pfizer stated that they are availing these prices to the Medicaid recipients. Though it was not clear from the statement how the company’s agreement will be structured, or whether any similar agreements with other pharma industries will join in with the private health insurance practices in the US region. Trump stated that there’s an ongoing discussion with other big pharma companies at the white house, in bold mentioning that Eli Lilly has been superb.’

Bourla said, “In our company, we had two key overhangs that raised concerns for us in our potential to invest.” On the uncertainty of the tariffs, he said, “As the president is correct, tariffs are a strong tool to encourage behaviors with the clear motivation for us. On the framework of pricing in the US, we are identifying both right now.”

The medicare director, Chris Klomp, said, “This is a simple access for patients at Trump RX. The site will be available at full MFN and with reduced prices in comparison to the current prices. This is like bypassing middlemen.”